India’s Forex reserves reached a record high of over 740bn US dollars last week

 
India’s foreign exchange reserves surged by 11.4 billion US dollars (USD) to a record high of 740.8 billion US dollars during the week ended August 28. According to the Reserve Bank of India data, Foreign currency assets, the largest component of the reserves, increased by 9.3 billion USD to 600.6 billion USD during the week. Gold reserves added 2.1 billion USD to 116.4 billion US dollars. However, Special Drawing Rights declined by 43 million USD to 18.8 billion USD. Country’s reserve position with the International Monetary Fund dipped 11 million USD to 4.9 billion USD.